FMR LLC grew its holdings in shares of Commscope Holding Company Inc (NASDAQ:COMM) by 14.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,423,293 shares of the communications equipment provider’s stock after buying an additional 1,168,575 shares during the quarter. FMR LLC owned 4.90% of Commscope worth $275,208,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in COMM. Twin Tree Management LP purchased a new position in Commscope in the 2nd quarter worth $151,000. Engineers Gate Manager LP purchased a new position in Commscope in the 2nd quarter worth $202,000. Hartford Investment Management Co. acquired a new stake in Commscope during the 2nd quarter worth about $202,000. Ladenburg Thalmann Financial Services Inc. grew its position in Commscope by 99.9% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,883 shares of the communications equipment provider’s stock worth $315,000 after purchasing an additional 3,939 shares during the period. Finally, Standard Life Aberdeen plc acquired a new stake in Commscope during the 2nd quarter worth about $303,000.
Shares of COMM stock traded up $0.28 during trading on Thursday, hitting $17.83. 2,427,694 shares of the stock traded hands, compared to its average volume of 5,099,567. The firm has a market cap of $3.37 billion, a PE ratio of 8.83, a PEG ratio of 2.80 and a beta of 1.23. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.80 and a current ratio of 2.44. Commscope Holding Company Inc has a 52-week low of $17.27 and a 52-week high of $41.60.
Commscope (NASDAQ:COMM) last released its quarterly earnings results on Thursday, November 8th. The communications equipment provider reported $0.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.07). Commscope had a net margin of 4.69% and a return on equity of 23.68%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the firm posted $0.55 EPS. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities research analysts predict that Commscope Holding Company Inc will post 1.97 EPS for the current fiscal year.
COMM has been the topic of several analyst reports. ValuEngine downgraded Commscope from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 6th. Goldman Sachs Group downgraded Commscope from a “buy” rating to a “neutral” rating and set a $32.00 price target on the stock. in a research report on Tuesday, October 9th. BidaskClub cut Commscope from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 11th. Cross Research upgraded Commscope from a “hold” rating to a “buy” rating in a research report on Thursday, October 4th. Finally, Rosenblatt Securities restated a “hold” rating and set a $32.00 target price on shares of Commscope in a research report on Sunday, August 5th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $32.96.
In other Commscope news, Director Claudius E. Iv Watts purchased 25,000 shares of the company’s stock in a transaction on Tuesday, November 13th. The stock was acquired at an average price of $19.00 per share, for a total transaction of $475,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Alexander W. Pease purchased 40,000 shares of the company’s stock in a transaction on Thursday, November 15th. The stock was acquired at an average price of $18.70 per share, with a total value of $748,000.00. The disclosure for this purchase can be found here. Insiders purchased a total of 76,500 shares of company stock valued at $1,442,400 in the last quarter. 3.33% of the stock is owned by insiders.
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CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.
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